“Hey hun, while you’re at Costco can you pick up some more chips, and a 24-pack of toilet paper, oh yea and can you get one gold bar if they aren’t already sold out?” That’s how I imagine the conversation could have gone when Costco began selling 1 ounce gold bars for $1,900 (the most recent price for one ounce of gold on the spot market is currently $1,870 as of the writing of this newsletter).
A few things I should note: the gold bars are only available for current Costco members, and they are only available for purchase online for now.
Why is Costco selling gold bars you might ask? Marketing and PR. I mean, you’re reading about it right now, which means someone has written an article reporting about this marketing stunt, so it must be working, right?
Costco is selling gold bars and they are selling out within a few hours